Bitcoin will replace credit card payments

Contrary to some predictions, Bitcoin is fast becoming an accepted means of transacting. Big companies like online retailer Overstock.com and mobile operator AT&T already allow customers to pay in bitcoin. And the list of companies that accept bitcoin keeps growing every day.

On a basic level, this trend proves that bitcoin is not a worthless virtual currency as critics love to claim, but it also represents something more fundamental: Bitcoin’s potential to replace legacy payment processing systems like Visa and MasterCard.

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